Salary in BTC from the Israeli company Spot.IM

[Hamphser]

Israeli Internet company Spot.IM will pay salaries in bitcoins

 Israeli Internet company Spot.IM plans to pay salaries to employees in bitcoins. Now she is negotiating with the Israeli tax authority (ISA) about obtaining a permit for the proposed method of payment along with an appropriate method of calculating exchange rates.

According to Spot.IM spokesman Itay Bracha, in Israel, the salary or allowance paid to an employee is taxable. The company offers employees to open an account on the crypto exchange, where they will transfer the converted into bitcoins salary.

To provide insurance against bitcoin volatility, the highest coin price and the lowest on the specified day will be calculated and used as an exchange rate. The staff will also have the opportunity to choose between receiving a salary or part of it in bitcoins or fiat money.

Employees of Spot.IM have approved this offer, as the high fee for conversion will be covered by the company. In addition to net profit, pension funds or other benefits will not be transferred using bitcoin.

In February 2018, the Israeli tax authorities announced that the crypto-currency transactions are assets subject to a capital gains tax. Thus, employees will need to pay a tax of 25% if they will profit from operations with bitcoins.

According to the head of Spot.IM, Ido Goldberg (Ido Goldberg), the company fully supports crypto-currencies and believes that such initiatives can provide confidence in the crypto-currency sphere.

After all these years i have seen most people do ask about adoption on where bitcoin or other crypto would be applied into businesses or companies which do pay up such coins but now it do already happen but people do say things other way around. This is an advantage for those crypto enthusiast workers but for those who dont have any knowledge at all they would really rather choose up fiat because they dont like to recieve a thing that do changes its prices any second or minute depending on how the market moves.

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[allohha]

Israeli Internet company Spot.IM will pay salaries in bitcoins

 Israeli Internet company Spot.IM plans to pay salaries to employees in bitcoins. Now she is negotiating with the Israeli tax authority (ISA) about obtaining a permit for the proposed method of payment along with an appropriate method of calculating exchange rates.

According to Spot.IM spokesman Itay Bracha, in Israel, the salary or allowance paid to an employee is taxable. The company offers employees to open an account on the crypto exchange, where they will transfer the converted into bitcoins salary.

To provide insurance against bitcoin volatility, the highest coin price and the lowest on the specified day will be calculated and used as an exchange rate. The staff will also have the opportunity to choose between receiving a salary or part of it in bitcoins or fiat money.

Employees of Spot.IM have approved this offer, as the high fee for conversion will be covered by the company. In addition to net profit, pension funds or other benefits will not be transferred using bitcoin.

In February 2018, the Israeli tax authorities announced that the crypto-currency transactions are assets subject to a capital gains tax. Thus, employees will need to pay a tax of 25% if they will profit from operations with bitcoins.

According to the head of Spot.IM, Ido Goldberg (Ido Goldberg), the company fully supports crypto-currencies and believes that such initiatives can provide confidence in the crypto-currency sphere.

After all these years i have seen most people do ask about adoption on where bitcoin or other crypto would be applied into businesses or companies which do pay up such coins but now it do already happen but people do say things other way around. This is an advantage for those crypto enthusiast workers but for those who dont have any knowledge at all they would really rather choose up fiat because they dont like to recieve a thing that do changes its prices any second or minute depending on how the market moves.

The fact is that Fiat people use not only because of the habit, but also because of the fact that everyday life is easy to use ordinary money, not crypto currency. It seems to me that the crypto currency will still take its place in the financial world, but it will be used only in certain spheres of human activity.

[mummybtc]

This is a good thing IMO, if I were one of the worker in that company, I would choose part BTC and part fiat option, because one would need money for day to day activities and also one would be holding BTC which in long term is a sure bet for investors. Just hope that more good news like this is going to continue

[molla_corda]

The same is practiced in Japan, at the same time on a large scale. Companies are well aware of the high volatility of cryptocurrencies and reduce risks. It's bad for hired staff.

[Wikadin]

Good news, because getting salary in Bitcoin will involve more people in cryptocurrency. Unfortunately, spot.im do not have opened job positions for freelancers https://www.spot.im/jobs/

[kordon16]

It's like a salary or a mortgage in dollars. Someone one only in the win, and the other is completely dependent on the market. Although if the salary is tied to the same dollar, and depending on the rate of the crypt and the salary will be recalculated, it is good. And so I think it's bad, plus it's move product.

[BTChannell]

It's not good, and not bad. I think this is just an attempt to attract attention, the marketing course of the company owners. Perhaps they are thus trying to promote Bitcoin in their country.

[BagzMM]

Personnaly, i would not accept a salary in BTC. Maybe last year yes, but this year no. Volatility of BTC is too high. You can become poorer very fast.

They accept their salary in BTC equivalent to USD from their payroll. I don't see any problem with this set-up as I heard many companies that offer their employee a salary in BTC. It's up to the employee if they want to invest it or convert into FIAT. This is a good example of mass adoption of bitcoin that could increase the demand of bitcoin in the future.

[aoluain]

I think generally speaking it is a bit too early for salaries to be paid in bitcoin and crypto.
This benefits the exchanges where the salaries are paid into because most people will need
FIAT to pay bills and other living expenses.

Receiving part of a salary in bitcoin would be my option if i was presented with it.

I agree, I don't understand why it is paid as bitcoin, I can understand some projects pay salaries with their native token but for such companies that is not reasonable.

I also agree, its a bit too early nor for salary payments in bitcoin purely
because other industries and services have not caught up with the trend.

Utility bills and living expenses cannot be paid with bitcoin yet.
Its a bold move and its good to see both employer and employee's willing
to accept bitcoin payments.

[icemantaurus]

This is definitely not a good idea for a certain company to use btc as their terms of paying the employee. Btc is a very volatile currency the value is fluctuating every now and then. It is so unfortunate for the workers to works in that company. What if btc goes down so the company compensate thier salary? I don't think so the company would do that.

[MidnightWolf]

This is definitely not a good idea for a certain company to use btc as their terms of paying the employee. Btc is a very volatile currency the value is fluctuating every now and then. It is so unfortunate for the workers to works in that company. What if btc goes down so the company compensate thier salary? I don't think so the company would do that.

It seems to me that one company should not have a strong influence on the crypto currency market in order to make some adjustments to the pricing of the crypto currency.

[mikhailkudig]

This is definitely good news, as other companies can follow this example, which will greatly affect the popularization of cryptocurrencies.

[BTC_ADA]

My opinion is excellent, in 1 it is anonymity, in 2 more security, in 3 everyone can increase their wages by playing on the growth and decline,additional motivation is not to sit out of the blue,because the money should work.

[denis-z12]

This could be very risky. Most people think about the value the BTCs will have in the future but what if instead of going up the value keeps going down. And one day you wake realising you have 40% less compared to 2 months ago.

[cryptokingmaker]

This is a good thing IMO, if I were one of the worker in that company, I would choose part BTC and part fiat option, because one would need money for day to day activities and also one would be holding BTC which in long term is a sure bet for investors. Just hope that more good news like this is going to continue

Yes, most of the people will do the same thing because when the price of Bitcoin is low we might get a higher value. So some part of the money should be in fiat currency for our daily needs. Not only Israeli company very soon many companies will start giving salaries in terms of Bitcoins only in the coming days.

[aragom]

Israeli Internet company Spot.IM will pay salaries in bitcoins

 Israeli Internet company Spot.IM plans to pay salaries to employees in bitcoins. Now she is negotiating with the Israeli tax authority (ISA) about obtaining a permit for the proposed method of payment along with an appropriate method of calculating exchange rates.

According to Spot.IM spokesman Itay Bracha, in Israel, the salary or allowance paid to an employee is taxable. The company offers employees to open an account on the crypto exchange, where they will transfer the converted into bitcoins salary.

To provide insurance against bitcoin volatility, the highest coin price and the lowest on the specified day will be calculated and used as an exchange rate. The staff will also have the opportunity to choose between receiving a salary or part of it in bitcoins or fiat money.

Employees of Spot.IM have approved this offer, as the high fee for conversion will be covered by the company. In addition to net profit, pension funds or other benefits will not be transferred using bitcoin.

In February 2018, the Israeli tax authorities announced that the crypto-currency transactions are assets subject to a capital gains tax. Thus, employees will need to pay a tax of 25% if they will profit from operations with bitcoins.

According to the head of Spot.IM, Ido Goldberg (Ido Goldberg), the company fully supports crypto-currencies and believes that such initiatives can provide confidence in the crypto-currency sphere.

After all these years i have seen most people do ask about adoption on where bitcoin or other crypto would be applied into businesses or companies which do pay up such coins but now it do already happen but people do say things other way around. This is an advantage for those crypto enthusiast workers but for those who dont have any knowledge at all they would really rather choose up fiat because they dont like to recieve a thing that do changes its prices any second or minute depending on how the market moves.

these good news, doesnt effect market. but small bad news crashes market. at least 10% loss in market in a bad new

[r_u_m_s]

I think that this is good, the cryptocurrency is only beginning to gain momentum in the market and such a balance as a salary in the form of BTC will be able to bring it to a new level.

[Hannahanto]

I expect the same thing should happen with other employers as well and others. This is the very good news about crypto.

[komjhq]

I expect the same thing should happen with other employers as well and others. This is the very good news about crypto.

So far I can not find any advantage of paying a working day with Bitcoin. In any case, in life We need real money and will have to sell Bitcoin for Fiat. But Bitcoin today is unstable and how will your salary in Bitcoin feel?

[JofryTheKing]

It is not the first news about the salary payment by the employer of part of the salary by crypto-currencies. But it seems to me that this is a wrong way out of the situation, this is an imposition against the will. And it is a very stupid method of attracting new investors.